Kathy Sager
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Proper Planning To Build And Preserve Your WealthAccumulating wealth, like any great achievement, requires creativity, skill and perseverance. To make the most of your wealth, you need a plan that will help you achieve all of your financial goals, today and in the future. Financial and estate planning provides the opportunity to plan for your financial future and to ensure you can leave a lasting legacy that reflects your personal values With a financial and estate plan, you can establish your goals, prepare for the unexpected, and define your legacy according to your priorities. I can work with you and a team of CIBC professionals, including a CIBC Wood Gundy Estate Planning Specialist (Financial Security Advisor in Quebec) to create an effective financial and estate plan that considers all facets of your financial circumstances. With the many tools and resources available through CIBC Wood Gundy, we can help you manage your objectives. InsuranceLife insurance can play a very important role in your financial plan and can give you peace of mind knowing you have provided for the well-being of your family. Generally, life insurance guarantees the payment of a pre-specified amount of money upon your death, paid tax-free to the beneficiaries chosen by you. Proceeds from a life insurance policy bypass your estate and are paid directly to your beneficiaries. This not only provides a faster and more efficient settlement for your beneficiaries, it also means there are no probate, legal or executor fees levied on these assets. By integrating life insurance into your financial plan, you can choose a customized policy that offers growth opportunities and attractive tax advantages, benefits that are passed on to your beneficiaries. Insurance services are available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are available through CIBC Wood Gundy Financial Services (Quebec) Inc. Tax Planning By Jamie GolombekJamie Golombek, CA, CPA, CFP, CLU, TEP, is the Managing Director, Tax and Estate Planning, with CIBC Private Wealth Management. As a member of the CIBC Retail Markets team, Jamie works closely with CIBC Wood Gundy Investment Advisors and other partners within the CIBC group of companies to support our clients and deliver integrated financial planning and advisory solutions. Jamie is a regular columnist with the National Post, Advocis' FORUM magazine, and Advisor's Edge Report, and he is often quoted in national media as an expert on personal taxation matters. Jamie also provides CIBC with reports on various tax planning topics, including TFSAs, RESPs, and trusts and estates, as well as commentary on the federal budget. I'd be pleased to provide you with copies of tax planning Special Reports by Jamie Golombek. You can also find links to many of Jamie's articles at www.jamiegolombek.com. Portfolio Partner®: The Best Of Both WorldsPortfolio Partner is a premium portfolio service that allows us to work closely with eligible clients1 to implement a tailored investment strategy and manage your portfolio on an ongoing basis. Paying an annual fee (monthly or quarterly), instead of commissions on every transaction, grants you the freedom to pursue your investment strategy without being concerned with individual transaction costs on every trade. Portfolio Partner offers:
With Portfolio Partner, you can leverage our experience, strategies and advice as we help you achieve diversification and a balanced portfolio specific to your financial goals. There are a maximum number of commission-free trades allowed each year, based on the value of your account. Trades and annual fees are pro rated on an annualized basis. A standard trade fee applies to excess trades. 1 Minimum account balance of $100,000 per household. Protecting The Future Of Your Growing BusinessEstablishing a business and making it a success is not easy. Transitioning out of that business can be even more difficult. But, the decision to retire or move away from day-to-day management is one of the most important decisions you will make. A business transition plan is the first step in securing the future of your business and ensuring that your own personal retirement goals are met. Creating a business transition plan can be a complex and lengthy process that requires a complete understanding of what you want your retirement to look like. It requires a team of experts who will work with you to successfully implement your plan. I can work with your other trusted advisors (lawyer, accountant, CIBC business advisor or Commercial Banking Relationship Manager) to help keep your plan on track. Together, we will guide you through the complex transition process and keep your objectives front of mind. A proper business transition plan will help you ensure the smooth transition of your company, provide you with financial security and protect everything you have worked so hard to achieve. Whatever the goal of your business transition plan, the key is to identify your financial objectives, start planning early and use the advice of a team of experts to ensure your company will continue to be successful. |
Life Insurance forms the foundation of any comprehensive financial plan. A well-constructed life insurance policy can offer you peace of mind that your family will be looked after, or that your business is protected, when you die.
Can you take the vacation you want every year? Will you be able to retire and maintain your existing lifestyle? Would the people you care about be looked after financially if anything should happen to you?
Since the notion of pension splitting was first introduced, Canada Revenue Agency (CRA) has responded to a number of technical questions on the rules. Here's a brief summary of some of the more interesting technical points.
Individual Pension Plans (IPPs) are employer-sponsored defined benefit pension plans with typically one or tbenefits are generally calculated according to a formula based on a number of factors, including years of service and salary levels.
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